Lumos Networks Corp. (LMOS) Shares Up 1.7%
Lumos Networks Corp. (NASDAQ:LMOS)’s share price shot up 1.7% on Wednesday . The stock traded as high as $12.76 and last traded at $12.72, with a volume of 116,851 shares changing hands. The stock had previously closed at $12.51.
Several research firms have recently weighed in on LMOS. Jefferies Group restated a “hold” rating on shares of Lumos Networks Corp. in a research report on Saturday, May 14th. Zacks Investment Research upgraded shares of Lumos Networks Corp. from a “sell” rating to a “hold” rating in a research report on Friday, April 22nd. Finally, William Blair began coverage on shares of Lumos Networks Corp. in a research report on Tuesday, April 19th. They set an “outperform” rating for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $17.80.
The stock has a market capitalization of $295.93 million and a P/E ratio of 69.84. The company has a 50-day moving average of $11.94 and a 200 day moving average of $12.08.
Lumos Networks Corp. (NASDAQ:LMOS) last issued its earnings results on Thursday, May 5th. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.14. The firm had revenue of $50.80 million for the quarter, compared to the consensus estimate of $51.65 million. During the same quarter in the previous year, the company earned $0.12 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that Lumos Networks Corp. will post ($0.02) EPS for the current year.
In related news, EVP Joseph E. Jr. Mccourt sold 2,000 shares of Lumos Networks Corp. stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $12.57, for a total value of $25,140.00. Following the completion of the transaction, the executive vice president now directly owns 47,887 shares of the company’s stock, valued at $601,939.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Several hedge funds and institutional investors have added to or reduced their stakes in LMOS. Nationwide Fund Advisors boosted its position in Lumos Networks Corp. by 0.3% in the fourth quarter. Nationwide Fund Advisors now owns 142,657 shares of the company’s stock worth $1,598,000 after buying an additional 405 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Lumos Networks Corp. by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 842,881 shares of the company’s stock worth $9,440,000 after buying an additional 73,026 shares in the last quarter. Finally, Columbia Wanger Asset Management LLC boosted its position in Lumos Networks Corp. by 45.0% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 1,679,756 shares of the company’s stock worth $18,813,000 after buying an additional 521,256 shares in the last quarter.
Lumos Networks Corp. is a fiber-based bandwidth infrastructure and service provider in the Mid-Atlantic region with a network of long-haul fiber, metro Ethernet and Ethernet rings located primarily in Virginia and West Virginia, and portions of Maryland, Pennsylvania, Ohio and Kentucky. The Company serves carrier, business and residential customers over its fiber network offering data, voice and Internet protocol (IP) services.
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